Columbia Yukon VBE-1 - Program Updates.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 11, 1997-- Columbia Yukon Resou(Alberta Stock Exchange CYR.) Columbia Yukon Resources Ltd. (the "Company") as operator and International CanAlaska Resources Ltd. ("ICA") announce that the deep drilling program on Mineral License VBE-1, east of the Voisey's Bay copper-nickel deposit in Labrador, is on schedule and continuing until late October, The $3,300,000 program is funded equally by Columbia Yukon, CanAlaska and Falconbridge Ltd.

Three completed drill holes, 96-1, 97-2, and 97-3 were tested by downhole Pulse EM probe to check for conductors within a 100-200 metre envelope around each hole. Hole 97-3 showed a small anomaly at the base of the hole which may reflect a source at some distance to the north, an area of the property where prospecting has identified surface showings of copper-nickel mineralization in VBE-1's most basic rock types. Based on this information and geological data acquired from the 97-3 drill core showing norite with disseminated sulphides, this northern area has been assigned priority for the targeting of at least one drill site.

Drill Hole 97-4, targeted to test a magneto-telluric (MT) anomaly, is at a current depth of 1300 metres, drilling through leuconorite rock. No sulphide source for the MT anomaly has been identified in the drill core, and a downhole Pulse EM probe of this hole will be carried out before moving the drill rig in order to ascertain if conductors exist adjacent to the hole. A detailed review of the MT surveys has noted that the strongest anomaly occurs 400 metres east of Hole 97-4, and probe readings from this direction will be evaluated for the targeting of an additional drill site on the anomaly. Drill Hole 97-5, currently at 1150 metres depth, is coring anorthosite. This hole will also be tested with a Pulse EM probe.

Hole 97-6 is at a depth of 825 metres in sulphide bearing leuconorite and anorthosite. Occasional bands of blebby pyrrhotite (iron sulphide) have been noted from a depth of 400 metres. Further selection of drill sites will be influenced by the results of the ongoing drilling.

ON BEHALF OF THE BOARD OF DIRECTORS

MICHAEL S. GUSTAVSON, DIRECTOR -0-

The Alberta Stock Exchange nor any other regulatory body has reviewed this news release and therefore do not accept responsibility for the adequacy or accuracy of this release.

CONTACT: Columbia Yukon Resources Ltd.

Micheal S. Gustavson, 604/683-3070 or

1-888-888-9122(CDN) or 1-888-888-9123(USA)

604/683-2308 (FAX)

E-mail: [e-mail]

Web Site:

http://www.columbia-yukon.com/columbia-yukon/